{"id":2518,"date":"2008-01-19T17:03:03","date_gmt":"2008-01-20T00:03:03","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=2518"},"modified":"2008-01-19T17:05:26","modified_gmt":"2008-01-20T00:05:26","slug":"net-borne-buyers-create-new-burdens-for-listing-agents","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2518\/net-borne-buyers-create-new-burdens-for-listing-agents\/","title":{"rendered":"Net-borne buyers create new burdens for listing agents"},"content":{"rendered":"

This is my column for this week from the Arizona Republic<\/i> (permanent link<\/a>):<\/p>\n

 
Net-borne buyers create new burdens for listing agents<\/b><\/p>\n

“Eighty percent of buyers start their home search on the internet.”<\/p>\n

You don’t have to dig too deeply in the real estate world to unearth that statistic. There are two problems that I can see with the claim.<\/p>\n

First, it’s based on an outrageously unreliable mail survey of recent home-buyers. Fewer than five percent of recipients returned the survey. How did the other 95% manage their home search? We don’t know.<\/p>\n

Moreover, while the long-term trend, surely, is that more people are using the internet to shop for homes, what matters is not how they started their search, but, rather, how did they finish?<\/p>\n

There’s more to think about, though, because it seems reasonable to me that people who are starting their home search without professional representation — without a Realtor — are continuing their search unrepresented as well.<\/p>\n

What’s the implication? Like it or not, the listing Realtor’s responsibilities are increasing.<\/p>\n

Realtors like to say — to each other — “If you list, you last.” What that means is that a listing, at least in a normal market, is a pretty secure paycheck, where working with buyers can be a lot riskier. This is the reason that the buyer’s Realtor often gets 60% or even 75% of the gross commission. The listing Realtor presumes that the buyer’s Realtor is going to be doing most of the heavy lifting.<\/p>\n

But this is not as much the case in the age of the internet. If an unrepresented buyer clicks through to the listing Realtor from an on-line Realty.bot — or if that buyer simply makes a sign call — the listing Realtor is obliged to show the home, even if the original intent was to have buyer’s Realtors doing all the work. Moreover, the open house, long derided by Realtors, is suddenly much more important.<\/p>\n

All of this creates new opportunities for dual agency, whereby the listing Realtor gets paid more — and incurs huge risks — while giving the buyer almost nothing in the way of representation. It’s hard to Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This is my column for this week from the Arizona Republic (permanent link):  Net-borne buyers create new burdens for listing agents “Eighty percent of buyers start their home search on the internet.” You don’t have to dig too deeply in the real estate world to unearth that statistic. There are two problems that I can […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,6,5,19],"tags":[],"class_list":{"0":"post-2518","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-disintermediation","7":"category-marketing","8":"category-real-estate","9":"category-technology","11":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":576,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/576\/learning-to-negotiate-the-buyers-agents-commission\/","url_meta":{"origin":2518,"position":0},"title":"Learning to negotiate the buyer’s agent’s commission . . .","author":"Greg Swann","date":"October 27, 2006","format":false,"excerpt":"From my column in today's Arizona Republic, a familiar theme. The permanently linked version uses a somewhat longer version of the text. \u00a0Negotiate agent commission In past weeks, we talked about using the simple question \"How much do you charge?\" to negotiate a more reasonable buyer's agent commission. Buyers traditionally\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1849,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1849\/a-buyers-market-you-bet-but-even-more-than-that-its-a-listing-agents-market\/","url_meta":{"origin":2518,"position":1},"title":"A buyer’s market? You bet, but even more than that, it’s a listing agent’s market","author":"Greg Swann","date":"August 24, 2007","format":false,"excerpt":"This is me in the Arizona Republic (permanent link): \u00a0A buyer's market? You bet, but even more than that, it's a listing agent's market As I write this, there are 55,706 homes listed for sale in the Arizona Regional Multiple Listings Service. Some are anomalous listings, but those would account\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2181,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2181\/a-consumers-guide-to-the-divorced-real-estate-commission-will-the-negotiating-their-buyers-agents-compensation-make-buyers-more-practical\/","url_meta":{"origin":2518,"position":2},"title":"A consumer’s guide to the divorced real estate commission: Will the necessity of negotiating their buyer’s agent’s compensation make buyers more practical?","author":"Greg Swann","date":"November 8, 2007","format":false,"excerpt":"Part II: How buyers can finally take a seat at the grown-up's table When a potential home-seller calls me to set up a listing appointment, very often the first question I will hear is, \"How much do you charge?\" A motivated seller is done with the house, and now all\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2179,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2179\/a-consumers-guide-to-the-divorced-real-estate-commission-why-buyers-and-sellers-each-paying-for-their-own-representation-is-the-most-significant-reform-that-can-be-made-today-in-residential-real-estat\/","url_meta":{"origin":2518,"position":3},"title":"A consumer’s guide to the divorced real estate commission: Why buyers and sellers each paying for their own representation is the most significant reform that can be made today in residential real estate","author":"Greg Swann","date":"November 7, 2007","format":false,"excerpt":"Part I: How we got into this mess in the first place Can we be straight with each other? I'm not a soft and subtle kind of guy, and my working assumption is that you are sick to death of being hustled -- handled -- lied to. We yammer all\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":541,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/541\/why-the-traditional-real-estate-commission-model-is-broken-and-needs-to-be-replaced\/","url_meta":{"origin":2518,"position":4},"title":"Why the traditional real estate commission model is broken and needs to be replaced . . .","author":"Greg Swann","date":"October 15, 2006","format":false,"excerpt":"These are the concluding paragraphs of Mark Nadel's white paper on real estate commissions. The executive summary has been quoted all over, but I think this text is more compelling. For what it's worth, I think Nadel has hit a home run. There are things he doesn't know about, which\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":605,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/605\/more-on-taking-listings\/","url_meta":{"origin":2518,"position":5},"title":"More on taking listings","author":"Russell Shaw","date":"November 5, 2006","format":false,"excerpt":"Greg, The issues in your post that really caught my attention were trying to become a lister as a new agent and finding much more early success working with buyers. 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